AST SpaceMobile (NASDAQ:ASTS) Trading Down 3.7% – Time to Sell?

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 3.7% during mid-day trading on Thursday . The company traded as low as $26.85 and last traded at $26.85. 6,401,156 shares were traded during mid-day trading, a decline of 40% from the average session volume of 10,594,812 shares. The stock had previously closed at $27.89.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ASTS shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday. B. Riley raised their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Scotiabank dropped their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday.

AST SpaceMobile Trading Down 9.6 %

The company’s fifty day simple moving average is $25.63 and its 200-day simple moving average is $18.30. The firm has a market capitalization of $6.53 billion, a PE ratio of -11.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.00 million. As a group, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $26.32 per share, with a total value of $129,862.88. Following the transaction, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This trade represents a 0.64 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the sale, the president now directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,700 shares of company stock valued at $3,220,524. Insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in AST SpaceMobile by 209.9% during the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after purchasing an additional 5,046,667 shares during the period. Vanguard Group Inc. grew its stake in AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after purchasing an additional 2,217,531 shares in the last quarter. Geode Capital Management LLC raised its position in AST SpaceMobile by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock valued at $85,450,000 after purchasing an additional 281,749 shares in the last quarter. State Street Corp boosted its stake in shares of AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after buying an additional 399,713 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after buying an additional 787,566 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

About AST SpaceMobile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.